China shares trim weekly gains; brokerage, coal-linked firms sink
HONG KONG Dec 6 (Reuters) - China shares posted a second-straight loss on Friday, trimming weekly gains as profit-taking hit the brokerage sector and coal-related companies slid after authorities again pledged to tighten restrictions on coal mining to reduce overcapacity.
The CSI300 of the leading Shanghai and Shenzhen A-share listings finished down 0.6 percent at 2,452.3 points, while the Shanghai Composite Index shed 0.4 percent. This was their second-straight daily loss after closing on Wednesday at multi-week highs.
But they each still had their fourth-straight weekly gain, rising 0.5 and 0.7 percent, respectively.
Losses came in the weakest Shanghai volumes since Oct. 26 ahead of a slew of November economic data.
Beijing is due to release November trade data on Sunday, with money supply, loan growth and total social financing data due Dec. 8-15. Monthly inflation data is expected on Monday, while those for urban investment, industrial output and retails sales are due on Tuesday.
China's leaders will also convene for an annual economic work conference next week where they will set economic growth targets and policy priorities for 2014. Separate planning conferences for urbanisation and agriculture are also reportedly being held.
China will tighten restrictions on coal mining and roll out tougher measures to improve quality in a bid to reduce overcapacity and support prices in the sector, the country's economic planning agency said on Friday. (Reporting by Clement Tan; Editing by Jacqueline Wong)
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